The stock market on Tuesday, February 16, remained volatile throughout the day and ended in the red. However, the indices hit a fresh record in the morning session. The market on Wednesday, February 17, is expected to give a negative start as the SGX Nifty was trading 16.00 points or 0.10 percent lower at 15,243.80 at 7:46 am. On February 16, the BSE Sensex declined 49.96 points or 0.096 percent to close at 52,104.17 whereas, the NSE Nifty fell 1.25 points or 0.0082 percent to settle the day at 15,313.45.
Top stocks to look for the day are:
Nestle India: The company on Tuesday reported higher profit at Rs 483.3 crore in Q4CY20 compared to Rs 472.6 crore in Q4CY19. The revenue of the company rose to Rs 3,432.6 crore from Rs 3,149.3 crore on yearly basis.
Infosys: The acquisition of an automated new business and underwriting platform from STEP Solutions has been completed by the US subsidiary.
Adani Ports: The company on Tuesday earmarked Rs 10,000 crore to build a new gateway into Maharashtra. It has also acquired Dighi Ports for Rs 705 crore.
Heritage Foods: Heritage Novandie Foods which is a 50:50 joint venture company between Heritage Foods and Novandie in France has started commercial production on Tuesday.
L&T Finance Holdings: Oversubscribed by 15 percent, the company has closed the rights issue of Rs 2,998.61 crore.
TVS Srichakra: To facilitate the investment program worth Rs 1,000 crore the company has signed a Memorandum of Understanding with the Tamil Nadu government.
Bajaj Electronics: The company received an A rating by ICRA for long term credit, upgrading it from A-. Similarly, for short term credit the rating is A1 from A2+ and A from A- for NCDs.
Axis Bank: The bank and its promoters United India Insurance Company have settled SEBI case of alleged disclosure lapses and paid more than Rs 51.5 lakh as a settlement amount.
Quarterly Results: Pasupati Spinning, Sanghvi Forging and Engineering, SR Industries, Uniply Decor, among others will announce their quarterly earnings on February 17.
Source: News18